James W. Wang and Stacy J. Wang, foreclosure

Published 12:37pm Wednesday, February 13, 2013

(First Publication February 11, 2013)

NOTICE OF MORTGAGE FORECLOSURE SALE

THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION.
NOTICE IS HEREBY GIVEN that default has occurred in the conditions of the following described mortgage:

1.  Date of Mortgage:  March 31, 2010
2. Mortgagors:
James W. Wang and Stacy J. Wang, husband and wife
3. Mortgagee:
Gate City Bank
4. Recorded on April 5, 2010, as Document Number 1072824, in the Office of the County Recorder of Otter Tail County, Minnesota
5.  Assignments of Mortgage, if any: None
6.  Tax parcel identification number of the mortgaged premises:  71003991372000
7. Legal description of the mortgaged premises:
The West 50 feet of Lots 1, 2, 3, 4, 5 and 6, Block 33 Wheeler and Rawson’s Third Addition to Fergus Falls, Minnesota, according to the certified and recorded plat thereof, on file and of record in the office of the County Recorder of Otter Tail, Minnesota.
8. The physical street address, city, and zip code of the mortgaged premises:  709 West 7th Avenue, Fergus Falls, Minnesota 56537.
9. The person holding the Mortgage is not a transaction agent, as defined by Minn. Stat. 58.02, subd. 30. The name of the residential mortgage servicer and the lender or broker, as defined in Minn. Stat. 58.02, is Gate City Bank.
10.  If stated on the Mortgage, the name of the mortgage originator, as defined in Minn. Stat. 58.02, is Gate City Bank.
11. The requisites of Minn. Stat. 580.02 have been satisfied.
12.  The original principal amount secured by the Mortgage was $88,268.00.
13.  At the date of this notice the amount due on the Mortgage, including taxes, if any, paid by the holder of the Mortgage, is: $88,801.00.
14. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the mortgaged premises will be sold by the Sheriff of Otter Tail County, Minnesota, at public auction on March 28, 2013, 10:00 a.m., at Otter Tail County Courthouse, 121 Junius Ave. W., Fergus Falls, MN 56537.
15.  The time allowed by law for redemption by Mortgagor or Mortgagor’s personal representatives or assigns is six (6) months after the date of sale.
16.  Minn. Stat. 580.04(b) provides, “If the real estate is an owner-occupied, single-family dwelling, the notice must also specify the date on or before which the mortgagor must vacate the property if the mortgage is not reinstated under section 580.30 or the property redeemed under section 580.23.” If this statute applies, the time to vacate the property is 11:59 p.m. on September 28, 2013.

THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR’S PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE WEEKS IF A JUDICIAL ORDER IS ENTERED UNDER MINNESOTA STATUTES, SECTION 582.032, DETERMINING, AMONG OTHER THINGS, THAT THE MORTGAGED PREMISES ARE IMPROVED WITH A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED.

DATE:
February 7, 2013

Gate City Bank, Mortgagee

Dean A. Rindy
Kennelly & O’Keeffe
Attorneys for Mortgagee
313 N.P. Avenue
P.O. Box 2105
Fargo, North Dakota
MN Atty No. 0182229

THIS IS A COMMUNICATION FROM A DEBT COLLECTOR

Publication Dates: February 11, 18, 25, March 4, 11, 18, 2013.

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